The Cardano ecosystem has long been touted as one of the most innovative blockchain networks in the industry. The CEO of IOHK, the company behind Cardano, Charles Hoskinson, hopes that ADA will be the most predominant force in the cryptocurrency space by the end of 2020 and expects it to become a true social operating system.
He revealed that with the launch of its much-awaited ‘incentivized testnet,’ the team learnt a lot about stake pools and the business of maintaining a cryptocurrency, while creating stability.
During his latest AMA session, Hoskinson said that 2020 could indeed be the year for Cardano. Hoskinson added,
“We are especially interested in investing resources at IOHK and our partners ar EMURGO and the Cardano Foundation [are] investing a lot of time to make sure that we fully understand. And as we exit 2020 and we go throughout the decade this is something we do continuous research in and the better we get, the better the feedback loop becomes, the faster we can grow and get to those billion users and become a true social operating system that is beneficial to everyone in the world.”
According to Hoskinson, the three crucial things that need to be aligned for Cardano to “displace” Bitcoin and achieve the coveted number one spot are – commercialization, incentives, and technology.
While admitting that all cryptocurrencies came into existence because of Bitcoin and that the oldest coin will always be valuable, the IOHK exec said that these are the three important factors that will help Cardano become the platform that caters to the people wanting to build their DApps on a platform that people want to store value on.
Besides, with respect to implementation on the network, Hoskinson said that the Cardano ecosystem this year will focus on collaborations. He also went on to reveal that the Ouroboros BFT will be rolled out by February, at the latest.